Dear Friends,

Very often, during the holiday season that is now starting and with the beginning of the new year, we are considering what we have achieved in the professional, economical, familial and personal fields. The measure of our success as we perceive it, is a source of pleasure and happiness or in the contrary sadness and deception.

Most importantly, as recent research demonstrates, what really counts in this consideration, is not only the absolute value or extent of what we have achieved but as well the comparison of what others or our peers and colleagues have achieved. Thus social comparison is confirmed to be of critical importance for our psychological well being, behavior, motivation and decisions.

Experiments with volunteers at the University of Bonn done by economists and brain scientists, demonstrate eloquently what happens in the centers of reward of our brain when we earn and most importantly when we do better than our colleagues. 

You will find more information on this interesting topic in the article The money you earn, social comparison, your colleagues and your psychological situation that you will find attached with our 58th Progressive Newsletter.

However the question about the relation between money and happiness remains: Can money buy you happiness? Well we should not underestimate the value of money. Nevertheless, money is not the key to happiness. Family networks and having a full life outside work may do the trick.

Lets not forget that people usually get richer during their lifetimes but not necessarily happier. Research from Mexico, Ghana, Sweden, USA and the UK shows that despite vastly different levels of wealth, citizens of these countries report similar levels of satisfaction. And most advanced nations have seen almost no change to individuals' happiness levels over the last 50 years, despite a huge hike in income.

This may be because people get their satisfaction and happiness only after comparing their richness to others. Work is key to individual happiness. But do not work so hard that there is no time left for your family, other relationships and leisure.

Takis A. Haggiandreou
Director
 

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The reward system in the human brain is activated when an individual earns money. The satisfaction experienced is higher when a individual succeeds better in comparison with others.

Our Quote:

"What's money? A man is a success if he gets up in the morning and goes to bed at night and in between does what he wants to do."

Bob Dylan